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The average price of OPEC’s crude basket during February 2022 was $94.22 per barrel, an $8.81 increase compared to January 2022 price average of $85.41.
Below are the prices of various crude oil grades produced by OPEC member countries in January and February 2022.
|
OPEC Basket Prices |
||||
|
Material |
Country |
January 2022 |
February 2022 |
Change |
|
Arabian Light |
Saudi Arabia |
86.15 |
93.82 |
+7.67 |
|
Basrah Light |
Iraq |
84.88 |
94.17 |
+9.29 |
|
Bonny Light |
Nigeria |
86.85 |
98.76 |
+11.91 |
|
Es Sider |
Libya |
86.16 |
98.06 |
+11.90 |
|
Girassol |
Angola |
88.28 |
100.78 |
+12.50 |
|
Iran Heavy |
Iran |
85.59 |
93.04 |
+7.45 |
|
Kuwait Export |
Kuwait |
86.28 |
93.84 |
+7.56 |
|
Miri |
Venezuela |
63.58 |
71.02 |
+7.44 |
|
Murban |
UAE |
85.11 |
94.18 |
+9.07 |
|
Saharan Blend |
Algeria |
88.21 |
100.71 |
+12.50 |
Prices of various raw materials are determined by their quality compared to standard materials such as Brent, West Texas and Dubai Crude.
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